(a) Beginning July 1, 2025, a person may not engage in the business of an energy vendor in the State unless the person holds a license issued by the Commission.
(b) (1) An application for an energy vendor license shall:
(i) be made to the Commission in writing on a form adopted by the Commission;
(ii) be verified by oath or affirmation; and
(iii) contain information that the Commission requires, including payment of the applicable licensing fee.
(2) (i) The term of an energy vendor license is 3 years.
(ii) The terms of licenses may be staggered as determined by the Commission.
(iii) Unless a license is renewed for a 3–year term in accordance with this subsection, the license expires on the date that the Commission sets.
(iv) A licensee may renew a license for a 3–year term before the license expires if the licensee:
1. otherwise is entitled to be licensed;
2. submits to the Commission a renewal application on the form that the Commission provides; and
3. pays to the Commission the applicable renewal fee set by the Commission.
(c) The Commission shall, by regulation or order:
(1) require proof of financial integrity;
(2) require a licensee to post a bond or other similar instrument if, in the Commission’s judgment, the bond or similar instrument is necessary to ensure an energy vendor’s financial integrity; and
(3) adopt any other requirements the Commission finds to be in the public interest.
(d) A license issued under this section may not be transferred without prior Commission approval.